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VAT Alert: Crowd funding


By: Liz Hill Date: 4 December 2015
Category: VAT

The European Commission’s VAT Committee has agreed some VAT guidelines in regard to crowd funding. Payments made by donors in reward for future goods or services can be seen as payments in advance and subject to VAT. However, if the open market value of the goods or services is lower than the payment made, the payment can be classed as a donation.

If you receive payments relating to goods or services to be supplied at a future date under a crowd funding programme then this could affect you. If you have any questions please contact Liz Hill or Rob Geary.
 
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